Interim moratorium under insolvency law stays debt proceedings and bars creditors from initiating fresh legal action during the application period. An interim moratorium begins on filing an application under section 94 or section 95 and continues until admission of the application. During this period, pending legal action or proceedings in respect of any debt are deemed stayed, and creditors cannot initiate legal action or proceedings for any debt. Where the application relates to a firm, the interim moratorium applies against all partners as on the date of application, subject to notified exceptions.